There exist today countries joined by fear of the future. Yet they are hopeful that past transgressions and poor decisions will not destroy the struggles of generations.
At the threshold of forever change, stand two female warriors. They stand with no outward show of defensive armor to identify their battle readiness. They occupy an instant in time where their decisions must shape and alter fiscal and monetary policies for generations. French economist Christine Lagarde and German leader Angela Merkel are influencing the decisions that will change the course of global governments and financial policies. Both have step into the center of a crucial apex in history
Madame Christine Lagarde
It was July of 1807, and there was a French German war. Then notions of global female leadership were impossible. There was no International Monetary Fund to set and institute monetary policies or sovereign bailout programs, no regulators to negotiate lasting peace. Over 137 years would past before the IMF came into being in July 1944. Its 187 members welcomed the first female Managing Director in July 2010. Her name is Christine Lagarde. She joined with the German Leader Angela Merkel to right the economic failures of Europe.
Acting in accordance to its tenets, to “foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable growth, and reduce poverty”, it fell to the willowy silver haired beauty to arbitrate balance among the affected nations.
A proponent of Adam Smith’s reasoning on what dictates a balanced economy, Christine Lagarde’s brand of economic leadership is uniquely suited. She enters the global arena where the success of a balanced economy hinges on the outcomes of repairing or perhaps recreating a weak fiscal and liquidity poor southern Europe. Her skills as arbitrator come as a result of being a practicing lawyer and chief economist within Nicholas Sarkozy’s French government. This exemplifies Madam Lagarde’s uniqueness in her role as Managing Director for the IMF (International Monetary Fund).
Demonstrating her newly forged metal when confronted with the Greek crisis and a spiraling Euro zone economy, Lagarde utilizes her power in the IMF to alter normal monetary policy.
With the heart of a warrior, she created the first truly aggressive monetary bailout plan under the IMF. Though igniting a Washington firestorm of opposition, she recognizes the importance of the immediate infusion of cash into the euro market. This uncompromising action was important to offering a temporary salve to a “liquidity trapped” Euro zone.
The Euro zone
The Euro zone crises have created a scenario whereby the monetary fighter must battle side by side with the fiscal warrior. This environment fermented a warm and respectful friendship. The federalist genius Angela Merkel entered the global arena armed with the German populace dictate of maintaining a moral hazard posture.
Chancellor of Germany Angela Merkel
Angela Merkel’s beginnings encompass the fiscal politics of both East and West Germany. Many of her governing concepts originated from her early childhood in a politically split post-World War II Germany. In November 2005, Angela Merkel became the first female Chancellor of Germany. She came to power during a time of reformation and upheaval. Merkel’s successful achievements arose as an agent of change within her country’s social security and labor reconstructs. Until the awakening of the Greek crises and the faltering Euro, Germany was experiencing a gradual yet anemic raise in its GDP. Fueled in part by fiscal decisions made under her leadership, Germany stubbornly remains the Euro zone’s strongest member.
Chancellor Merkel honed her leadership skills under the tutor ledge of former German Chancellor and political conservative Helmut Kohl.
As his protégé, she embraces much of the concepts that drove Helmut Kohl’s regime in rebuilding the country. Helmut Kohl was a German reunification giant and much of what Angela Merkel brings to the Eurozone table comprises those governmental ideologies of fiscal planning.
As President of the European Council and Chairwoman for the G8, she demonstrated a brave heart when choosing to lead the conservative male dominated CDU or The Christian Democratic Union of Germany. As a supreme negotiator, Merkel’s political expertise brings its own brand of qualifications to the battle of saving Europe.
The daughter of a Protestant minister, she and Christine Lagarde’s history is divergent. Yet both women believe that continued and growing commerce relationships with the United States is an important component to economic recovery. Both are completely committed to maintaining a unified Europe. Chancellor Merkel’s politics are to the center right of the Managing Director of the IMF Christine Lagarde.
Do you know what takes real courage?
Sometimes our female champions or superheroes do not wear breastplates, capes and tights. No testosterone-filled words of brinkmanship will pass their lips to linger in the air between them. These two women must lead a multinational coalition in achieving the answers necessary to attaining lasting global economic wellbeing.
Going forward and addressing the issues of needful gender parity. The world has entered a time when equity has become necessary to economic survival for every nation.
“Angela Merkel ~ “Nobody in Europe will be abandoned. Nobody in Europe will be excluded. Europe only succeeds if we work together.” – Angela Merkel (1954)